Asked by Anonymous on 09-12-2021 11:26:40
Question posted in the Property Law category relating to Gauteng
Can I cancel an Offer To Purchase because the bank approved a 100% loan instead of a 105%. This means that I cannot cover the other costs outside the bond.
Information Requested by Lawyer
Posted by Att. Patrick on 10-12-2021 11:23:06
I see that you haven't made a payment for the question, but I'm going to assist you a little. If you want to ask a follow-up question, please make the required payment, even if it is R150 or R200.
If your OTP contains a clause which says that the sale is conditional upon you getting the 105% bond approval, then yes.
Please remember this is a dialog if you have follow-up questions please make the required deposit, then use the REPLY button and ask your further question. I would like to continue assisting you, but I need to concentrate on people who make deposits for their questions - they get serviced first!
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